According to Matthew Sigel, head of digital asset research at VanEck, Bitcoin could potentially reach a price of $1 million per coin.
Sigel shared his views on CNBC’s Halftime Report, explaining that the market tends to move in cycles and cautioning investors to expect considerable ups and downs.
VanEck Sees $1 Million Bitcoin in 5 Years
During the event, Sigel pointed out that Bitcoin’s growth could follow a similar path to video games. What started as something mostly popular with kids has now become mainstream, enjoyed by people of all ages, and Bitcoin could experience the same widespread adoption.
Looking at population shifts and what young investors plan to do with Bitcoin, it’s going to follow a similar path to the video game industry. Thirty years ago, gaming was mostly for kids, but now even people like Elon Musk are gamers. Once people get involved, they tend to stick with it, and the same is true for Bitcoin. With the first central bank now holding Bitcoin as a reserve, this is a major long-term trend, though it will likely experience significant price swings along the way.
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Sigel estimates Bitcoin could hit $1 million within the next five years.
VanEck still believes Bitcoin will likely continue to increase in value, but they also expect it to go through regular cycles of ups and downs, according to Sigel.
The executive believes this asset could reach $1 million in the coming years, but cautioned that its value will likely fluctuate significantly. Unlike traditional systems, Bitcoin doesn’t have any safety nets, so these ups and downs are to be expected.
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Regarding Bitcoin’s immediate price movements, Sigel noted a strong connection with the Nasdaq – the strongest in five years. This indicates the recent price increase is likely due to overall trends in the wider economy, rather than factors specific to Bitcoin itself.
As a crypto investor, what I’m hearing is pretty encouraging. The firm believes Bitcoin’s current price strength is solid because we’re not seeing a lot of risky speculation in the derivatives market. It looks like the recent price increase is mostly from people closing out their short positions – meaning a lot of investors were betting against Bitcoin but are now buying it back. This suggests the overall market is still leaning towards bearishness, which, surprisingly, actually supports a positive outlook for Bitcoin in the short term. Basically, it’s a good sign that this rally isn’t built on hype, but on a shift in sentiment from those who were previously betting against it.
Sigel’s forecast puts VanEck in agreement with Matt Hougan, Bitwise’s Chief Investment Officer, and Samson Mow, CEO of Jan3. Both Hougan and Mow arrived at similar optimistic predictions – scenarios where Bitcoin reaches over a million dollars – but used different methods to get there.
Bitcoin would have to increase more than twelve times in value to reach a price of $1 million. Currently, it’s trading around $81,042, a slight decrease of nearly 0.30% from yesterday. Even if it were to surpass its previous high of over $126,000 from October 2025, it would still be far from the $1 million mark.
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2026-05-07 11:05